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| Company Circular No: | LCH.Clearnet Limited Circular No 3382 |
| Date: | 02 December 2013 |
| To: | All LCH.Clearnet Ltd Clearing Members |
Christmas and New Year Opening Times
Introduction
The purpose of this circular is to inform members of the opening and closing times for the clearing hours for LCH.Clearnet Ltd services over the Christmas and New Year Period. It is also intended to provide members with information relating to clearing processes over this period. Please note that all times quoted in this circular are in GMT.
Clearing Hours
The table below details the operating times of the various LCH.Clearnet Ltd services
| EnClear OTC Services | Equityclear | Forex/SwapClear | LME | |
|---|---|---|---|---|
| 24 Dec 13 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 26 Dec 13 | Closed | Open
Normal Business Day | Open
Normal Business Day | Closed |
| 27 Dec 13 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 31 Dec 13 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 02 Jan 13 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| LSE Derivative Markets | NLX | RepoClear | Nodal | |
|---|---|---|---|---|
| 24 Dec 13 | Clearing closed
14.00PM | Clearing closed
13.45PM | Open
Normal Business Day | Closed |
| 26 Dec 13 | Closed | Closed | Closed | Open
Normal Business Day |
| 27 Dec 13 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 31 Dec 13 | Clearing closed
14.00PM | Clearing closed
13.45PM | Open
Normal Business Day | Clearing closed
20.00PM |
| 02 Jan 13 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
LSE Derivatives Markets
Equity Option Exercise/Assignments
The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on LSE Derivatives Norwegian Equity Options settling in Norway. Please note the Norwegian Market is closed on the 24th and 31st December 2013:
| Exercise/Trade Date | Settlement Date |
|---|---|
| 19 December 2013 | 27 December 2013 |
| 20 December 2013 | 30 December 2013 |
| 23 December 2013 | 2 January 2014 |
| 27 December 2013 | 3 January 2014 |
The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on LSE Derivatives Russian Equity Options settling in Euroclear:
| Exercise/Trade Date | Settlement Date |
|---|---|
| 20 December 2013 | 26 December 2013 |
| 23 December 2013 | 27 December 2013 |
| 24 December 2013 | 30 December 2013 |
| 27 December 2013 | 2 January 2014 |
| 30 December 2013 | 3 January 2014 |
| 31 December 2013 | 6 January 2014 |
NLX
Gilt Futures Exercise/Assignments
The table below details trade and settlement dates in respect of Gilt deliveries resulting from exercise and assignments on NLX Gilt Futures settling in Euroclear EUI:
| Exercise/Trade Date | Settlement Date |
|---|---|
| 20 December 2013 | 24 December 2013 |
| 23 December 2013 | 27 December 2013 |
| 24 December 2013 | 30 December 2013 |
| 27 December 2013 | 31 December 2013 |
| 30 December 2013 | 31 December 2013 |
EnClear OTC Services
24 December 2013
The Expiry Day for Freight Forward and Freight Option December 2013 contracts. Registration and clearing ceases at the normal business day times for these contracts.
30 December 2013
The Expiry Day for Coal Futures December 2013 contracts. Registration and clearing ceases at the normal business day times for these contracts.
31 December 2013
The Expiry Day for Steel, Iron Ore, Futures and Options December 2013 contracts. Registration and clearing ceases at the normal business day times for these contracts.
LME
All LME and OTC Bullion delivery instructions will be processed at the normal times.
Please note that the January 2014 Option Declaration will be on Thursday 2nd January.
Collateral Operations
Cut off times for 24 and 31 December 2013 are as follows:
| Overnight PPS calls to be confirmed by: | 09:00hrs |
| Cash movement requests: | 09:30hrs |
| Intra-day margin calls made until: | 16:00hrs – London PPS
21:00hrs – US PPS |
Collateral: Dependent on each market, for clarification call Collateral Operations 0207 426 7593
All other dates over the period will operate a normal business day.
Further Information
Members should contact the relevant Exchange for opening hours on individual contracts.
For further information in relation to this circular please contact one of the following:
| EnClear OTC Services | Gerry Mundy / Kevin Watts | 020 7426 7688 / 7699 |
| EquityClear | Ahmadou Toure | 020 7426 7671 |
| Forex | David Fitzgerald | 020 7426 3749 |
| LME / Nodal | Gerry Mundy / Kevin Watts | 020 7426 7688 / 7699 |
| LSE Derivatives Markets | Gerry Mundy / Kevin Watts | 020 7426 7688 / 7699 |
| NLX | Gerry Mundy / Kevin Watts | 020 7426 7688 / 7699 |
| RepoClear | Mark Shaw | 020 7426 7660 |
| SwapClear | Boaz Schechter | 020 7426 3797 |
| Collateral Operations | Collateral Operations | 020 7426 7504 |